Simple, Proven Methods for Maximizing Your Home’s Sale Price
With the real estate market the way it is today, there’s truly never been a better time to sell your home. (Just check out these home values in Washington, DC; Fairfax, Virginia; and Bethesda, Maryland!)
Inventory is incredibly low, making every home on the market right now a hot commodity. The result? Steadily increasing home prices and homeowners being able to sell on whatever terms they want.
“The fussy toddler? Yes, she comes with the home. No. I’m sorry. That’s not negotiable.”
The National Association of Realtors (NAR) just released a report revealing the average property sold in a record low eighteen days. The report also showed the median single-family home jumped 18.4 percent.
Despite these statistics, home sellers shouldn’t get complacent. Yes, things are selling faster and for more money, but with a few simple tricks, you can help ensure you capitalize on these conditions and enjoy the greatest return possible on your investment.
1. Help Potential Buyers Visualize Your House as “Home”
You want everyone who walks through your property to imagine it as home. (After all, if people can’t imagine living there, they won’t make an offer!) So, pack away anything that makes potential buyers feel as if they’re walking through someone else’s house. That means family pictures, awards, or anything sentimental and specific to your family. The space should be cleaned, decluttered, and neutral.
The data backs up the importance of this simple step. A 2021 report by NAR found, “82% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home…Eighteen percent of sellers’ agents said home staging increased the dollar value of a residence between 6% and 10%.”
“Look, you seem nice enough, and I want you to feel at home, but you really need to give the robe back. And put your shoes back on.”
2. Clean. Clean. Clean.
A clean house helps ensure something like a few dirty dishes in the sink or piles of blocks your kid left around don’t distract your potential buyers from everything great about the house.
One often under-considered issue? Smell. Many people are sensitive to smells, so making your home smell clean and fresh is critical. Don’t overdo it with the wall plug-ins or perfumes, though, as some people find those just as off-putting as trash, smoke smell, or lingering pet odor.
“That’s it. You nailed it. Week-old fish. That’s exactly what it smells like in here.”
3. Don’t Schedule Your Way Out of a Sale
There’s no doubt about it. Selling a home is inconvenient. It’s disruptive, especially if you have kids and pets, and it’s a lot of work. The payoff is worth it, especially with home prices soaring the way they are right now. But…it’s still a pain.
Want to minimize that inconvenience? Vacate your home for several days when you plan to have showings. This way, you don’t have to worry about keeping the home immaculate or frenzy cleaning every time somebody wants to take a walk-through.
Staying with family or friends or grabbing a hotel for several nights can have real benefits when it comes time to take offers:
- It maximizes how many people can see your property.
- People with incredibly limited availability can still find a time that works for them.
- More people means more potential offers.
- More offers means the two sweetest words to a seller: bidding war.
Make sure your agent is making your home digitally available as well. Health concerns are still very much real, and creating virtual open houses and digital tours makes your home viewable even to those who can’t risk going to an open house.
“Don’t mind me. I’m just monitoring this five-way bidding war on my property.”
4. Make Sure the Price Is Right
If you’re ready to list, a seller’s market is exciting. And while it’s OK to daydream about how many offers you’re going to receive, remember to also keep your feet on the ground. Pricing your home correctly is essential to getting the most out of this market.
Going too low can make people undervalue your home, suspect something is wrong with it, or invite offers you’re never going to seriously entertain.
Going too high out of the gates isn’t the answer either, though. It can deter people, pricing you out of online searches and minimizing how many eyes you have on your home.
The goal here is to let the maximum number of people see your place and fall in love, allowing competing buyers to push that final price higher and higher.
To date: 24 offers. $150,000 over asking. Current leading offer will bring unlimited funds to the appraisal gap.
This is one of the most compelling reasons to work with a seasoned real estate agent who has experience in your area. Pricing a home just right is difficult, and the expertise of someone who knows what works and is fair in your specific market is invaluable.
Today’s market puts the seller in control. You can list on your terms, and it’s not unreasonable to expect a great price and a quick sale. No matter where you are in the selling process, whether you just have questions or you’re ready to get the ball rolling, let’s connect. We’re always happy to help. This is real estate as it should be!
